Ram Power Corp. - A Leader in Geothermal Energy Press Releases

Ram Power and Sierra Geothermal Power Enter Into a Definitive Agreement

Thu, 08 Jul 2010 09:00:00 -0400

Ram Power to Acquire Sierra Geothermal

RENO, NEVADA- July 8, 2010 – Ram Power, Corp. (TSX: RPG) ("Ram Power") and Sierra Geothermal Power Corp. (TSXV:SRA) ("Sierra") are pleased to announce that, in accordance with the letter of intent previously announced on June 1, 2010, they have entered into a definitive arrangement agreement whereby Ram Power will acquire all the issued and outstanding common shares of Sierra.

Under the terms of the transaction, which is structured as a plan of arrangement pursuant to the Business Corporations Act (British Columbia), each common share of Sierra will be exchanged for 0.0833333 of a common share of Ram Power, and all options and warrants of Sierra will become exercisable for options and warrants of Ram Power on a basis equivalent to the exchange ratio. Upon closing of the transaction, Ram Power is expected to issue approximately 11.13 million common shares to the current shareholders of Sierra. The transaction is expected to close during the third quarter of 2010 and is subject to there being at least $2.9 million of working capital of Sierra at closing, receipt of TSX and TSXV approval, the approval of the common shareholders of Sierra at a shareholders meeting to be scheduled on or before August 31, 2010, and court approval.

Ram Power has also received voting agreements from Skyberry Holdings Ltd. and Exploration Capital Partners 2005 Limited Partnership in which each of those shareholders have agreed to vote their shares of Sierra in favour of the transaction at the upcoming special meeting of Sierra shareholders which will be called to approve the transaction. In the aggregate, those shareholders hold approximately 23.7 million common shares of Sierra representing approximately 17.8% of the issued and outstanding shares of Sierra.

Gary Thompson, Sierra’s President, Chief Executive Officer and Executive Director, stated, "We are pleased to have formalized an arrangement agreement between Ram Power and Sierra. We believe that Sierra shareholders will benefit from this transaction by owning shares of a well capitalized company, a solid pipeline of properties, excellent growth potential and increased liquidity. We also see this deal as a positive for the geothermal sector in general. This deal has full support of the Sierra’s Board of Directors, Special Committee and Management. The next business item for us is to provide shareholders with an information circular."

"Raymond James Ltd. has rendered a fairness opinion to the Board of Directors of Sierra dated July 6, 2010 that the consideration to be received by shareholders of Sierra pursuant to the transaction is fair, from a financial point of view, to such shareholders."

Hezy Ram, Ram Power’s Chief Executive Officer, stated, "The arrangement agreement represents an important milestone in the growth of Ram Power as well as the consolidation of the geothermal power industry. From the beginning, Ram Power set out to be the market leader in geothermal power, and the Sierra acquisition is expected to contribute to the synergistic advantages we are seeking in our portfolio of properties."

The definitive agreement includes a commitment by Sierra not to solicit alternative transactions. Each company has agreed to pay a termination fee of $1.5 million to the other party under certain circumstances. In addition, Ram Power has the right to match any unsolicited competing offer which may be made. A full copy of the definitive agreement will be filed by each of Ram Power and Sierra with the Canadian securities regulatory authorities and will be available at www.sedar.com. In addition, a detailed description of the agreement will be included in the management information circular which will be mailed to Sierra shareholders later this month.

ABOUT RAM POWER, CORP.

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties and has interest in geothermal projects in the United States, Canada, and Latin America.

ABOUT SIERRA GEOTHERMAL POWER CORP.

Sierra is a Vancouver-based geothermal energy company focused on the exploration and development of clean, sustainable power in Western North America. Sierra has 100% control over its 120,000 acre portfolio of geothermal properties in Nevada, California and British Columbia. Sierra’s projects have a combined total estimated capacity of almost 400MW.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ram Power, Corp.

Steven Scott
Director of Investor Relations
Phone (775) 398-3711
Email: sscott@ram-power.com
www.ram-power.com

Sierra Geothermal Power

Anthony Srdanovic
Investor Relations
(604) 683-0332 x 115
asrdanovic@sierrageopower.com
www.sierrageopower.com

Cautionary Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. Forward-looking statements are projections of events, revenues, income, future economic performance or plans and objectives for future operations. In some cases you can identify forward-looking statements by the use of terminology such as "may", "should", "anticipates", "believes", "expects", "intends", "forecasts", "plans", "future", "strategy", or words of similar meaning. Forward-looking statements in this press release include statements about the proposed transaction, the expected date of a shareholder meeting, the expectation of receiving the required approvals and the benefits the transaction might bring to Ram Power, Sierra and their respective shareholders. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect the current judgment of management at both Ram Power and Sierra, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other forward-looking information suggested in this press release. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks that the companies are unable to negotiate a mutually acceptable agreement, the risk that they cannot obtain the consents that may be required in order to consummate the transaction, the risk of adverse changes to either company or the industry in which they operate, as well as the general business risks described in the periodic disclosure documents filed by Ram Power and Sierra on SEDAR, copies of which are available at www.sedar.com. Any of these risks could cause actual results or achievements to be materially different from those that are expressed or implied by the forward-looking statements contained in this press release. Except as required by applicable law, neither of Ram Power or Sierra intends to update any of the forward-looking statements to conform these statements to actual results.

Ram Power Announces Purchase of Geysers Property

Thu, 24 Jun 2010 08:00:00 -0400

RENO, NEVADA- (June 24, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power"), is pleased to announce that it has purchased through its wholly owned subsidiary, Etoile Holdings Inc. (“Etoile”), 100% of the membership interests in Mayacamas Energy LLC (“Mayacamas”) which has direct ownership of the 421 acres of land associated with the identified steam resource for Ram Power’s Geysers Geothermal Project (the “Project”) in Northern California and provided the majority of the steam to a 55 megawatt power plant operated by Pacific Gas and Electric until 1989.

The Mayacamas property has three fully tested production wells which can support over half of the 25-35 megawatt project originally engineered by Western GeoPower Inc. (a wholly owned subsidiary of Ram Power) and is adjacent to Ram Power’s 3,500 contiguous leased acres with several existing well pads that could provide access into undeveloped areas of the steamfield. Together, these parcels of land will provide maximum flexibility to investigate the various alternatives for advancing the Project. The objective of these alternatives is to further enhance the proven steam resource and thus the value of the Project. Such alternatives being considered include an expanded drilling program on the site, the sale of steam to power producers and the development of Ram Power’s own operating facility.

The purchase price paid by Ram Power was an undisclosed amount of cash. As a result of the transaction, Ram Power will no longer be required to pay a royalty of 4% to 12% from the revenues associated with the selling of power that utilizes the steam from the resource.

Hezy Ram, CEO of Ram Power, stated, “Ownership of the land rights is a key element for Ram Power, allowing for flexibility and autonomy in the development of the Project. The purchase of the land and resource rights for the Project is a continuation of our commitment to developing our pipeline of projects to their full potential.”

About Ram Power, Corp.

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties and has an interest in geothermal projects primarily in the United States, Canada, and Latin America.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws including information regarding the business of Ram. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram, undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram, or its financial or operating results or its securities.

Ram Power and Sierra Geothermal Power Enter Into Letter of Intent

Tue, 01 Jun 2010 08:00:00 -0400

Ram Power to Acquire Sierra Geothermal

Reno, Nevada and Vancouver, British Columbia (May 31, 2010) – Ram Power, Corp. (TSX:RPG) ("Ram Power") and Sierra Geothermal Power Corp. (TSXV:SRA) ("Sierra") are pleased to announce that they have entered into a non-binding letter of intent in relation to the potential acquisition by Ram Power of all of the outstanding common shares of Sierra.

The letter of intent contemplates the acquisition by Ram Power of all of Sierra’s outstanding common shares by way of a share exchange whereby holders of outstanding Sierra shares would receive 1 common share of Ram Power for every 12 common shares of Sierra. All outstanding options and warrants to purchase Sierra shares will be exchanged under the transaction for options and warrants to purchase common shares of Ram Power in accordance with the exchange ratio. The transaction will result in the issuance of approximately 11.125 million common shares of Ram Power to shareholders of Sierra.

Based on the exchange ratio and Ram Power’s May 28, 2010 closing share price of $2.56, the implied offer price of $0.213 per Sierra share represents an 18.5% premium to its May 28, 2010 closing share price of $0.18 and a premium of 19.9% to Sierra’s 20-day volume weighted average price of $0.178.

The benefits of the transaction include:

• Allows shareholders of Sierra to recognize an attractive premium to the existing Sierra share price, while obtaining an interest in Ram Power’s broader portfolio of operating, in-construction, and development geothermal assets;

• Shareholders of Sierra will become shareholders of Ram Power, with its experienced management team and strong balance sheet;

• Increases Ram Power’s footprint in Nevada, one of the premier regions for geothermal development in the United States;

• Potential for synergistic development of a power cluster in Esmeralda County, Nevada, as Ram Power’s Clayton Valley land positions are contiguous to Sierra’s Paymaster District projects: Alum, Silver Peak and Pearl;

• Acquired projects improve the ability of Ram Power to deliver additional power under its existing power purchase agreement with NV Energy;

• Continuance of the consolidation process underway in the geothermal industry and the enhancement of Ram Power’s position as a market leader amongst independent geothermal energy companies.

The parties expect to enter into definitive agreements in relation to the transaction towards the end of June 2010, subject to negotiation of mutually satisfactory terms, completion of confirmatory due diligence and the receipt of lock-up commitments in favour of the transaction from Sierra’s largest shareholders. In addition, the closing of any transaction will be conditional upon receipt of any required regulatory and shareholder approvals. Under the letter of intent, Ram Power and Sierra have agreed to negotiate exclusively in order to complete confirmatory due diligence and negotiate definitive agreements.

Gary Thompson, SGP’s President, Chief Executive Officer and Executive Director, stated, "We are pleased that our formal strategic process led by Jacob Securities Inc. has resulted in a transformative transaction for Sierra shareholders. We believe that Sierra shareholders will benefit from this transaction by merging into a well capitalized geothermal company such as Ram Power. The transaction has the full support of the Sierra Board of Directors, Special Committee, and Management who will be working closely with Ram Power over the coming weeks to finalize and execute definitive agreements."

Hezy Ram, Chief Executive Officer for Ram Power, stated, "We are very pleased about the letter of intent with Sierra. This transaction comes as a continuation of our strategy to create a renewable energy company of scale, with the skilled management and capital in place to execute on our projects."

ABOUT RAM POWER, CORP.

ABOUT SIERRA GEOTHERMAL POWER, CORP.

Ram Power, Corp.

Steven Scott
Director of Investor Relations
Ram Power, Corp.
Phone +775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Sierra Geothermal Power, Corp.

Anthony Srdanovic
Investor Relations
(604) 683-0332 x 115 asrdanovic@sierrageopower.com www.sierrageopower.com

Cautionary Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. Forward-looking statements are projections of events, revenues, income, future economic performance or plans and objectives for future operations. In some cases you can identify forward-looking statements by the use of terminology such as "may", "should", "anticipates", "believes", "expects", "intends", "forecasts", "plans", "future", "strategy", or words of similar meaning. Forward-looking statements in this press release include statements about the proposed transaction, the expected date of entering into definitive agreements and the benefits the transaction might bring to Ram Power, Sierra and their respective shareholders. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect the current judgment of management at both Ram Power and Sierra, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other forward-looking information suggested in this press release. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks that the companies are unable to negotiate a mutually acceptable agreement, the risk that they cannot obtain the consents that may be required in order to consummate the transaction, the risk of adverse changes to either company or the industry in which they operate, as well as the general business risks described in the periodic disclosure documents filed by Ram Power and Sierra on SEDAR, copies of which are available at www.sedar.com. Any of these risks could cause actual results or achievements to be materially different from those that are expressed or implied by the forward-looking statements contained in this press release. Except as required by applicable law, neither of Ram Power or Sierra intends to update any of the forward-looking statements to conform these statements to actual results.

Ram Power Announces 2010 First Quarter Results

Thu, 13 May 2010 11:00:00 -0400

RENO, NEVADA- (May 13, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power" or the “Company”), today reported its financial and operating results for the first quarter ended March 31, 2010. This earnings release should be read in conjunction with Ram Power’s MD&A and financial statements, which are available on the Company’s website at www.ram-power.com and have been posted on SEDAR at www.sedar.com.

Concurrent with today's release, Hezy Ram, CEO of Ram Power, said, “In keeping with our business plan, the Company is continuing the process of consolidating its operations as a result of the October 2009 business combination. The construction at our San Jacinto-Tizate project proceeds both on budget and on schedule. The Company commenced drilling in Nicaragua and California, entered into new geothermal leases in the United States and began negotiations with relevant parties to accelerate development of some of its properties. We also drew down the first amount under the $77 million credit facility for the San Jacinto Phase I expansion and have begun the negotiation process for the Phase II expansion’s financing.”

Mr. Ram continued, “The financial results for the quarter were in line with our expectations, and we continue to make great strides in our Company.”

OVERVIEW

The financial results of Ram Power for the three months ended March 31, 2010 and 2009 are summarized below:

For the purpose of this summary, the results of Polaris for the three months ended March 31, 2009 are used as comparatives because, for accounting purposes, the financial statements of the Company are deemed to be a continuation of the financial statements of Polaris.

The Company´s $4,038,323 loss is the result of a decrease in revenue of $391,119 and an increase in expenses of $3,523,861. The decrease in the Company´s revenues is the result of the existing 10MW project in Nicaragua being taken off-line for approximately two weeks due to the continuing construction of the San Jacinto Phase I and II expansions and a 2009 recovery of revenues earned in 2005. The $3,523,861 increase in expenses is primarily the result of $2,201,138 of compensation expenses related to the Company’s stock option grant to its directors and officers in October 2009. The balance is attributed to additional general and administrative expenses related to the larger corporate infrastructure subsequent to the business combination in October 2009. The increase in expenses was partially offset by a decrease in direct costs of $94,031 due to reduced energy production.

OUTLOOK

Ram Power is currently in negotiations with several lenders to provide a project debt facility for the Phase II San Jacinto-Tizate expansion stage to 72 MW which is expected to close in third quarter 2010. Construction of Phase II is being conducted in parallel to Phase I. In addition, Ram Power will be actively developing its nearby Casita project for which the Company has entered into a letter of intent with the local utility to sell up to 157 MW of power. The Company’s power purchase agreement with Southern California Edison for the Orita project was recently approved by the California Public Utilities Commission. The Company’s New River project and other potential projects in the Imperial Valley, California are currently under various stages of development. Work continues with the Imperial Irrigation District to advance a 50 MW geothermal project pursuant to a recently executed letter of intent and permitting has commenced for the Clayton Valley project.

With respect to the Geysers property, the Company expects to make an announcement shortly about its plans to develop this project. Other geothermal properties will continue to be evaluated in the United States, Canada and Chile during 2010.

Hezy Ram, CEO of Ram Power, concluded, “We are continuing on our course to bring our projects closer to their commercial operation and to bring clean, renewable energy to the people of North and Latin America.”

About Ram Power, Corp.

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties and has interests in geothermal projects in the United States, Canada, and Latin America.

Ram Power, Corp. will hold its inaugural earnings call to discuss the 2009 Year End and First Quarter financial and operating results on Friday, May 14, 2010 at 10:00am EST (7:00 am PST).

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This news release contains certain “forward-looking information” which may include, but is not limited to, statements with respect to future events or future performance, management’s expectations regarding the Company’s growth, results of operations, estimated future revenues, requirements for additional capital, production costs and revenue, future demand for and prices of electricity, business prospects and opportunities. In addition, statements relating to estimates of recoverable geothermal energy “reserves” or “resources” or energy generation are forward-looking information, as they involve implied assessment, based on certain estimates and assumptions, that the geothermal resources and reserves described can be profitably produced in the future. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current geothermal energy production, development and/or exploration activities and the accuracy of probability simulations prepared to predict prospective geothermal resources; changes in project parameters as plans continue to be refined; possible variations of production rates; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the geothermal industry; political instability or insurrection or war; labor force availability and turnover; delays in obtaining governmental approvals or in the completion of development or construction activities or in the commencement of operations; as well as those factors discussed in the section entitled “Risk Factors” in this news release. These factors should be considered carefully and readers of this news release should not place undue reliance on forward-looking information.

Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Such forward-looking information is made as of the date of this news release and, other than as required by applicable securities laws, Ram Power, Corp. assumes no obligation to update or revise such forward-looking information to reflect new events or circumstances.

Ram Power Announces Release Date for 2010 First Quarter Results

Mon, 10 May 2010 09:30:00 -0400

RENO, NEVADA- (May 10, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power"), today announced that it will release its financial statements for the fiscal quarter ended March 31, 2010 on Thursday, May 13, 2010. The management will discuss first quarter 2010 financial results and other matters during a conference call and live audio webcast on Friday, May 14, 2010 at 10:00 am ET (7:00 am PT).

The live audio webcast will be accessible at http://events.startcast.com/events6/425/C0001/Default.aspx.

An archived version of the conference call will be available for approximately twelve months following the call. To listen to a recording of the call by telephone, call (800) 408-3053. Use the conference call access code 2428707.

About Ram Power, Corp.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power, undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram Power, or its financial or operating results or its securities.

Ram Power Signs Letter of Intent for the Sale of 150 MW from Nicaragua Geothermal Concession

Tue, 04 May 2010 09:00:00 -0400

RENO, NEVADA- (May 4, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power"), through its wholly owned subsidiary Polaris Geothermal, Inc., has entered into a Letter of Intent (the "LOI") with Disnorte-Dissur, a Gas Natural Fenosa company ("Disnorte-Dissur") to negotiate a Power Purchase Agreement (the "PPA") for energy that will be produced by a new geothermal power plant under development in Nicaragua.

Under the LOI, Disnorte-Dissur, an energy provider in Nicaragua, will purchase up to 157 megawatts (MW) of power to be developed from Ram Power’s Casita San Cristobal geothermal concession (the "Casita Project"). Both final capacity and power rate figures are subject to approval by the Nicaraguan Ministry of Energy and the electricity regulator. The PPA is expected to be signed in 2010.

The Casita Project is located in northwest Nicaragua in the department of Chinandega. Exploration drilling of the Casita Project is expected to begin later this year. Energy deliveries to Disnorte-Dissur will be in several phases beginning in 2013.

"Ram Power is pleased to expand our development plan by furthering the conversion from oil based power in Nicaragua into a renewable based, cost effective operation," said Mario Arana, Director of Ram Power. "Developing the world class geothermal resources of Casita San Cristobal will not only provide jobs, but will also help reduce the cost of power for the citizens of Nicaragua."

Mr. Arana went on to say that, "building upon our experience with the San Jacinto-Tizate Project, this agreement demonstrates the strong market demand for clean, renewable energy, as well as Ram Power’s commitment to its continued growth as an international supplier of geothermal power."

About Ram Power, Corp.

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal power properties. It has interest in geothermal projects in the United States, Canada, and Latin America.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone +775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram Power, or its financial or operating result or its securities.

Ram Power Announces Resignation and Appointment at Its Board of Directors

Wed, 28 Apr 2010 08:20:00 -0400

RENO, NEVADA- (April 28, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), today announced that Mr. Robert R. Gilmore is stepping down from Ram Power’s Board of Directors, effective immediately. He is replaced by Dr. Mario Arana who previously served as Honorary Member of the Board for Ram Power.

"We would like to thank Mr. Gilmore for his service and dedication to Ram Power," said Hezy Ram, CEO of Ram Power. "The Company has benefitted from his business insights and professional expertise."

Antony Mitchell, Executive Chairman for Ram Power stated, "We are delighted to have Dr. Arana as a full board member. Mario’s experience as President of the Central Bank of Nicaragua as well as with other international dealings has been instrumental in furthering our strategic initiatives in Central America."

About Ram Power, Corp.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power, undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram Power, or its financial or operating results or its securities.

Ram Power Announces Resignation from Its Board of Directors

Wed, 21 Apr 2010 10:30:00 -0400

RENO, NEVADA- (April 21, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power" or "the Company"), today announced that Mr. Christopher M.T. Thompson is stepping down as Chairman of the Board, effective April 23, 2010. Mr. Antony Mitchell will become Executive Chairman of Ram Power effective Friday, April 23, 2010.

Due to Mr. Thompson’s continuing commitments and growing work load he has concluded that he would not be able to devote sufficient time to the Company.

Hezy Ram, CEO of Ram Power, stated "Ram Power would like to thank Mr. Thompson for all of his efforts on behalf of the Company. There is no doubt that Ram Power is in a stronger position through his leadership and guidance over the last six months. We wish him the best in future endeavors."

"Mr. Mitchell is an excellent addition to our Board of Directors," Mr. Ram went on to say. "His financial and technical background nicely complements the broad capabilities of our existing directors. We are very excited to have Antony lead the Board."

About Ram Power, Corp.

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties and has interests in geothermal projects in the United States, Canada, and Latin America.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power, undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram Power, or its financial or operating results or its securities.

Production Well Drilling Underway for Orita I and San Jacinto Projects

Mon, 12 Apr 2010 08:00:00 -0400

RENO, NEVADA- April 12, 2010 – Ram Power, Corp. (TSX: RPG) ("Ram Power"), through its subsidiary Ram Power, Inc., is pleased to announce that it has commenced the six-well drilling program permitted for the Orita I geothermal development project which is underway in Imperial County, California. This drilling program will define and test the resource zones that will supply steam to the planned 49.9 MW Orita I power plant. Ram Power, Inc. has contracted Nabors Drilling USA to use Nabors Drilling Rig 415 to test both permeable sand units and fault fracture units within the depth range of 7,000’ to 10,000’ to delineate the quality of the reservoir system. Spud date for the Orita well no. 2 location was April 8, 2010 and it is expected to require 45 days to drill, complete and test this first well. Drilling is planned to develop resource fluids contained in competent rock units at temperatures in excess of 400^oF.

The Orita resource area was explored previously by operators active in the 1980’s and the area was designated as a Known Geothermal Resource Area with identified resource temperature of 574^oF and wells tested at commercial flow rates. The 49.9 MW Orita I project is expected to be completed by the end of 2012 and power will be sold to Southern California Edison under an existing power purchase agreement with Ram Power’s subsidiary Orita Geothermal I, LLC.

Stu Johnson, Vice President for Geothermal Resources, stated "Permitting for the drilling and for the conduct of seismic and magneto-telluric geophysical surveys used to plan the drilling was coordinated through the lead of Imperial County agencies and their staff. It is a pleasure to work with the residents of Imperial County, and Ram Power looks forward to expanding the green power geothermal base within the region."

Regarding the 72 MW San Jacinto project in Nicaragua, Mr. Johnson stated, "The Norwood drilling rig is on site and will commence drilling next week. ThermaSource rig 104 has been shipped from Long Beach, California to the site and will commence drilling by the end of April. Using two drilling rigs with different capabilities will assure the completion of the drilling program for the full 72 MW project before the end of 2010. Construction continues on site in earnest to meet the 2011 deadline."

About Ram Power, Corp.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram, undertakes no obligation to update forward looking information, other than as required by law, or comment on analyses, expectations or statements made by third-parties in respect of Ram, or its financial or operating results or its securities.

Ram Power Announces Refiling of Financial Statements to Correct Certain Clerical Errors

Fri, 09 Apr 2010 17:00:00 -0400

RENO, NEVADA- (April 9, 2010) – Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), today announced that it has revised and re-filed its audited financial statements for the fiscal year ended December 31, 2009 to correct two errors in the consolidated statement of cash flows. These errors affected accretion of debt for the twelve months ended December 31, 2008 and net loss for the twelve months ended December 31, 2009.

Restatements

Accretion of debt in the consolidated statement of cash flows for 2008 was restated as $3,684,928, an increase of $2,880,265. In addition, non-controlling interest in comprehensive income (loss) of subsidiary for 2009 in the amount of $26,954 was presented separately and netted out from the 2009 net loss.

Neither restatements affected the cash flow calculations nor did either restatement have any effect on the consolidated balance sheets, consolidated statements of operations and comprehensive loss, or consolidated statements of shareholders’ equity, all of which were accounted for properly.

Ram Power’s Audit Committee of its Board of Directors, on the recommendation of management, has concluded that it is necessary to restate the Company’s audited consolidated financial statements for the fiscal year ended December 31, 2009. Accordingly, Ram Power’s financial statements as previously published and filed in respect of such period should no longer be relied upon.

Management’s Comment

Paul Zavesov, CFO of Ram Power, stated "Although these restatements are the result of clerical errors, we regret that we had to re-file our financial statements. We take seriously our obligation to provide accurate financial information and our management team, having recognized the materiality of the errors, acted diligently to quantify the differences and disclose these findings."

The amended financial statements are available at www.sedar.com.

About Ram Power, Corp.

Steven Scott, Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email: sscott@ram-power.com
www.ram-power.com

Cautionary Statements